Japanese crypto exchange bitFlyer trading volume surges 241% to $220 million in 24 hours
2024-08-05 08:38:51
Bitcoin yen exchange rate tokyo bitflyer exchange exchange down down neardesk3cryptocurrencydesktopCrypto News
Bitcoin fell nearly 15 percent against the yen on the bitFlyer exchange in Tokyo, outpacing dollar-denominated losses. The decline was influenced by a sharp appreciation of the yen as a result of Japan's 0.25 percent interest rate hike. The yen has rallied nearly 10 percent against the dollar over the past three weeks, triggering carry trade positions squaring, leading to a sell-off of risky assets, including bitcoin, and market volatility. Trading volume on the bitFlyer exchange surged 241 percent in 24 hours, topping $220 million.
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